Trade Union Calls For Bankruptcy Law Reform

Law360, New York (September 6, 2007, 12:00 AM EDT) -- A labor union head has called for an overhaul of corporate bankruptcy laws to protect the rights of employees, telling lawmakers America's workers should be the courts' top priority.

Testifying before a U.S. House subcommittee Thursday, United Steelworkers international vice president Fred Redmond urged Congress to make reforms to enshrine the principle of shared sacrifice and ensure workers get their dues before other creditors.

“The lives of far too many American workers and retirees have been crushed by corporate reorganizations,” Redmond told the Subcommittee on Commercial...